SINGAPORESingapore Technologies Engineering is on the lookout for acquisition opportunities, says President and CEO Vincent Chong. In addition to building new businesses -- such as robotics and cybersecurity -- the company is also keen to hone new strengths in its core defense operations. The goal, Chong says, is to transform ST Engineering from a domestic-oriented defense company into a diversified, international engineering player.
You acquired U.S. robotics company Aethon last year. Are you planning any more mergers and acquisitions? Robotics is a nascent field and still evolving. We think there is a lot of upside. That's why we decided to invest. We are looking at applying Aethon's autonomous mobile robot to our own manufacturing process at our own aircraft component production site in Germany. We continue to look for suitable M&A opportunities. It can be robotics, smart city related, cybersecurity related, or it could be our core defense businesses as well, if that helps us enhance our scale. For example, we invested in an airplane conversion business. We continue to invest, and as opportunities present themselves, we will acquire companies to strengthen the core businesses.